Frankel J, Wei S-J, Stein E.
APEC and Regional Trading Arrangements in the Pacific. Pacific Trade and Investment: Options for the 90's . 1995 :289-312.
Publisher's Version Frankel J, Wyplosz C.
A Proposal to Introduce the ECU First in the East. Institute for International Economics. 1995.
Publisher's Version Frankel J.
The Obvious Peso Blunder at Treasury. Committee on Banking, Finance and Urban Affairs. 1995.
mexdeval2-27-95.pdf Frankel J.
Monetary Regime Choices for a Semi-Open Country. In: Capital Controls, Exchange Rates and Monetary Policy in the World Economy . Cambridge: Cambridge University Press ; 1995.
Publisher's Version Frankel J, Rose A.
Exchange Rate Crises in Emerging Markets. International Economic Department of the World Bank. 1995.
Publisher's Version Frankel J, Chinn M.
Who Drives Real Interest Rates in the Pacific Rim: The United States or Japan?. Journal of International Money and Finance. 1995;14 (6) :801-821.
Publisher's VersionAbstractThis paper investigates the relative influence of US and Japanese real interest rates in the determination of local Pacific Rim rates, where influence is defined by the presence of common stochastic trends. Furthermore, the degree to which long run real interest parity holds is examined. The cointegration testing methodology of Johansen (1988) is adopted for this analysis, which allows for multiple cointegrating vectors. The results indicate that Hong Kong, Malaysia and Taiwan are linked with both the US and Japan (in terms of cointegration and positive covariation), while only Singapore is solely linked with the US. On the other hand Korea, and perhaps Indonesia and Thailand appear to be more closely linked with Japan. Real interest parity holds for only the following interest rate pairs: US-Singapore, US-Taiwan and Japan-Taiwan.
